Solar Rooftop Policy Coalition Unveils "Scaling Up Private Investment in Rooftop Solar" Report

A report titled, “Scaling Up Private Investment in Rooftop Solar” was launched by Mr. Piyush Goyal, Minister of State with Independent Charge for Power, Coal, New and Renewable Energy.

The report is the product of an in-­‐depth study by the Solar Rooftop Policy Coalition (consisting of The Nand and Jeet Khemka Foundation, The UK Department for International Development, The Climate Group and The Shakti Sustainable Energy Foundation on ways to increase private investment in rooftop solar in India. The report focuses on how solar on the roofs of business, institutions and homes can be scaled up to the Government’s target of installing 40 GW of rooftop solar capacity by 2022. Rooftop solar will contribute to India’s energy security and is an important part of achieving the Government’s overall target of 175 GW of renewable energy by 2022.

Sir David King, UK Foreign Secretary’s Special Representative on Climate Change said “India can be the game changer in the global transition to renewable energy, driving sustainable economic growth.   India  has  achieved  great  things  in  ground-­‐mounted  solar  and  this  report  can  help  repeat this success in rooftop solar.”

Uday Khemka, Managing Trustee, the Nand and Jeet Khemka Foundation said “This is a really  exciting time for rooftop solar which has huge potential for growth. Implementing the recommendations of this report, including addressing risks faced by investors, will contribute to sustained scale up of the rooftop solar sector and accelerated progress towards the Government’s 40 GW target for rooftop solar by 2022.”

Stakeholder consultations were held in New Delhi, Mumbai and Hyderabad in August 2015. The report is aimed at policy makers in central and state governments, regulators, utilities, investors, banks, the solar industry, the real estate industry, think tanks, local government bodies and others with an interest in the future of rooftop solar.

The report was prepared by a team of eight experts from The Khemka Foundation, Bridge to India, Meghraj Capital Advisors and The Climate Group. This study makes recommendations that the authors estimate can double rooftop solar capacity by 2022 without any additional direct subsidy.

Krishan Dhawan, Chief Executive Officer of the Shakti Sustainable Energy Foundation said “Rooftop solar is an important component of India’s ambitious plans to grow solar energy. For this initiative to succeed, it is vital that the right market and policy mechanisms are in place to facilitate investment and growth in this sector. We are very pleased to have supported this very timely publication.”